As more Texans struggle with housing costs, homeownership becoming less attainable

A new housing report from Harvard University found that would-be homebuyers need to make more money than ever if they want to buy a home in Texas’ urban areas. The study also found that home prices and rents remain well above where they stood before the COVID-19 pandemic. The growth in Texas home prices has outpaced income growth, pricing many households out of the market. It’s common for buyers to have to make at least six figures in order to purchase a home in major urban areas. The number of homeowners and renters who struggle to keep a roof over their head is also at an all-time high.